Reputation consists of a range of judgments and opinions about the brand that have developed in the process. Such judgments are made based on the criteria that are most important to the audience.
The formation of the audience's opinion is the basis of an analytical approach to reliable knowledge and assessments. The main factor that affects the reputation is the buyer's personal experience.
During the formation of your brand reputation, there is an opportunity to realize the strategic goals of the company, because this is a dynamic process. Developing a reputation is always designed for the long term. Through reputation, the global characteristics and social factors of a brand can be clearly seen.
A high level of support and a transparent reputation are important both for an individual consumer and for an international corporation.
According to statistical studies, the overwhelming majority of investors consider the company's reputation as the main factor influencing the cost of products. A good reputation provides up to 75% of a corporation's shareholder value, as it is a real financial asset. Tangible assets are formed several times faster, but the reputation is stable and is not subject to inflation and price fluctuations.
The level of the company's product sales directly depends on the reputation. Most online users who buy products on the Internet carefully study the reviews about the manufacturer. It is logical that preference is given to a brand, reviews of which are positive and numerous. Conversely, users refuse an order if they find negative opinions and reviews. Reputation can be considered a credit of trust in the brand, it inspires trust and the buyer believes that the quality of the product will be high if the company has a good reputation.
Often, developers and users themselves compare these two concepts - a company's reputation and image. In fact, the image is an integral part of the reputation, but it has other prerequisites for formation and growth.
Initially, the audience gets acquainted with the elements of corporate identity as a means of positioning in the market. The perception of these elements affects the consciousness of the consumer, forming in his eyes an image that is an ideal image. The image creates an impression of the brand, which positively affects the audience.
Based on this, an image can be called an opinion that is created artificially between a certain group of people. The purpose of the image is to form a positive brand image in the eyes of consumers.
It is artificially impossible to create a reputation, but an image is possible. Reputation is the response of the target audience to the policies and actions of the firm. Reputation is built continuously throughout the entire life and activity of the company, and it is calculated for the long term. But the image depends on many external factors and characteristics.
Developers create a brand reputation strategy in order to effectively and smoothly manage the company's reputation. This includes a list of activities and actions aimed at building a positive reputation and the rules for their implementation.
Contact the FINE branding agency Development Company: AI, Blockchain, IoT to create a reputation for your new brand in Kyiv, Lviv, Odessa, Dnipro, Vinnitsa, Ukraine and throughout Ukraine, we are working for the long term!